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Speaking from experience, it's actually worries about poaching, letting the competition know the size of your various teams, and possibly privacy for employees too.

You are right that with things like LinkedIn you could probably get a lot of this information, but it's enough of a hurdle that execs still think it's worth it.

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Well, then this is superstition on the part of those execs. LinkedIn is the one tool that every recruiter uses. They are more likely to map out your employee network on LinkedIn than to even visit your company website at all (much less count on it for having accurate up-to-date information).

I've always considered it more of a pragmatic thing. Execs don't change all that often, some roles need to be there (sales, press, service).

But in a growing company above a certain size keeping such a page up to date can be a pain.

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